"Maximizing Your Social Security: Strategies for Boomers and the Average Benefit by Age"
TL;DR Summary
Baby boomers can increase their Social Security benefits in 2024 by being patient and delaying their claim to grow their benefits by up to 8% per year, working an additional year to replace a lower-earning year with a higher one in their benefit calculation, and utilizing the SSA-521 do-over clause within 12 months of claiming to undo an early claim and allow benefits to accrue again. However, the SSA-521 option requires repayment of all benefits received and is a one-time opportunity.
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- 5 Great Financial Reasons To Claim Your Social Security Benefits in 2024 AOL
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